Second US buy for Royal Mail

General Logistics Systems (GLS), Royal Mail’s international parcels business, has acquired Postal Express, the US overnight parcel delivery company for £10.6 million.

Postal Express is a regional overnight carrier operating in the states of Washington, Oregon, and Idaho. It offers overnight parcel delivery, mainly to business-to-business customers, across a number of industries.

Sales last year were some $42 million. It delivered around 8.7 million parcels in 2016. The total consideration paid for 100 per cent of the shares in Postal Express was $13.3m (£10.6m).

This acquisition follows the purchase of Golden State Overnight Delivery Service, the regional carrier acquired by GLS in October 2016.

Postal Express will be consolidated within GLS for reporting purposes but managed as a separate entity. GLS chief Rico Back said: “The acquisition of Postal Express is in line with GLS’ strategy of careful and focused geographic expansion.”